Colorado Mortgage Loan Originator (MLO) 20-Hour Pre-License SAFE Act Course


  • Duration: 20 hours
Course Types:
Share This Course:

How to Get a Colorado Mortgage Loan Originator (MLO) License

License Requirements

  • Must be at least 18 years of age or older
  • Have a high school diploma or equivalent
  • Possess a social security number
  • Have established credit in the U.S.

General License Information: Who Is Required To Have This License?

All persons who originate a mortgage, offer to originate a mortgage, act as a mortgage loan originator, or offer to act as a mortgage loan originator. Individuals who meet requirements as described in section 12-61-904, Colorado Revised Statutes do not need this license.

A Division checklist for new applicants has been created to help mortgage loan originators through the application process. This checklist can be viewed online in the MLO licensing section of the CO-DORA website. License approval will be issued in an “Approved-Active” status once your Individual Form (MU4) is satisfactorily reviewed by Colorado Division of Real Estate. To receive an “Approved” status, Mortgage Loan Originators must meet listed in the Requirements Submitted Outside of NMLS section.

Activities Authorized Under This License

This license authorizes the following activities:

  • First & Second Mortgage Brokering
  • Foreclosure Consulting/Foreclosure Rescue
  • Home Equity Lending/Lines of Credit
  • Reverse Mortgage Activities o High Cost Home Loans
  • Third Party Mortgage Loan Processing (1099 Employees Only)
  • Third Party Mortgage Loan Underwriting (1099 Employees Only)
  • Mortgage Loan Modifications

Step 1: Obtain an NMLS number

Go to and click on “Request an Account” at the bottom. To get the NMLS number is simple, and at no cost. They issued the number instantly, but be sure not to display it until you are properly licensed.

Step 2: Get fingerprinted for the Department of Regulatory Agencies (DORA) and a Colorado Bureau of Investigation (CBI) background check

Prior to submitting an application for licensure, each applicant must submit a set of fingerprints to the Colorado Bureau of Investigation (CBI) for the purpose of conducting a Colorado and national fingerprint-based criminal history background check utilizing records of both the CBI and the Federal Bureau of Investigations (FBI).

  • Submitting Fingerprints Electronically – The Colorado Applicant Background Services program (CABS) requires fingerprint transmission through a CBI approved vendor. Please use the following information to enroll and schedule an appointment (required).
  • IdentoGO by Idemia – Use the following links to register for a fingerprint appointment. IdentoGo enrollment centers are located throughout Colorado and the U.S. You must register and schedule an appointment to submit your fingerprints. Walk-ins are not accepted.

Step 3: Pre-License Education Requirements

New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This education must include 3 hours of Federal law, 3 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, plus 10 hours of undefined education (referred to as electives) + 2 hours of CO law. These courses do require a final exam with a passing grade of at least 75%. CO has a requirement for 2 hours of instruction on state-specific laws which may be satisfied by either taking a CO comprehensive course or a state-specific elective course. Number of hours is 3/3/2/10/ + 2hrs of CO law = 20

Step 4. Pass the SAFE Act Test

You are required to take and pass the SAFE Act National Test with Uniform State Test (UST). Our recommendation is to take the test within 10 after you’ve completed the 20 hour pre-licensing course. A score of 75% or better is required to pass the SAFE Act test.

  • TEST ENROLLMENT: First you must create a TEST ENROLLMENT on the NMLS website. You will pay $110 (fee may vary) for the National Test with Uniform State Test (UST) upon the enrollment. Creating the enrollment is what will give you permission to schedule the test.

How To Pay For A Test Enrollment

  • SCHEDULE YOUR TESTS: **You must pay for the tests in the step above BEFORE you can schedule a test date.** The tests are given by Prometric Testing Centers, and they have centers located throughout the state of Colorado and across the country.

Schedule Test

Do you already have your MLO license in another state and just need to attend the 2 Hour Colorado Specific Course?

View our 2 Hour Colorado Specific Course schedule.

Step 3: Credit Report

Authorization for a credit report must be completed. Upon initial authorization, you are required to complete an Identity Verification Process (IDV) within the Individual Form (MU4). See the Individual (MU4) Credit Report Quick Guide for instructions on completing the IDV. Note: The same credit report can be used for any existing or additional licenses for up to 30 days.

Step 4: Submit the MU4 Application

*Complete after you’ve attended the 20 Hour Colorado SAFE Comprehensive Course and passed the National exam*

  • Loan Originator applicants must submit the “Uniform Individual Mortgage License/Registration & Consent Form,” also known as the MU4 APPLICATION on the NMLS website.

How To Submit MU4 Application 

  • FEES: You must pay a $195 (price may vary) nonrefundable application fee, a $20 (price may vary) nonrefundable Mortgage Guaranty Trust Fund fee and a $60 (fee may vary) NMLS processing fee when you apply.
  • CREDIT REPORT: You are required to authorize a credit report with the submission of your MU4 Application. The cost of the credit report is $15 (fee may vary).

How To Submit Credit Report

Step 5: Individual Licensee Surety Bond Requirement and E&O Insurance

Mortgage Loan Originator – All MLO applicants must furnish a surety bond. The amount depends on the profile of the applicant. The cost of your bond is a fraction of the full bond amount.

  • $25,000 if applying as an individual.
  • $100,000 if the applicant is an employee of a company with less than 20 individuals who are also required to be licensed (under the CO MLO licensing laws).
  • $200,000 if the applicant is an employee of a company with 20 or more individuals who are also required to be licensed (under the CO MLO licensing laws).

The surety reviews your personal credit score and other personal financials in order to set a rate for your bond. Typically, the higher your credit score, the more reliable a surety will consider you, and the lower your bond rate will be. For applicants with perfect credit scores, the cost of their bond can be as low as .5% to 1.25% of the full bond amount. For applicants with slightly lower credit, rates may vary between .75%-1.5%.

Step 6: Complete Your License Application

Once you have fulfilled all of the requirements, you must complete your application for a mortgage loan originator license on the Division of Real Estate’s website. When your application is approved, you will receive your new license number.

  • Once you are notified that your application has been approved, call the Division of Real Estate to get your NMLS online record updated with your new license number.

Recommended Add-Ons

“Did You Find What You Need?” For Additional Resources & Testing:

Disclaimer: Course requirements and pricing are subject to change. Students are advised to verify all necessary licensing and education requirements with the appropriate state department or licensing agency prior to purchase. All courses offered on this site are processed and administered through third-party companies. Cameron.Academy does not process payments nor issue refunds. Responsibilities of the user-selected third-party company (or companies) include publishing and updating content, payment processing and refunds, administering and/or hosting courses, monitoring, grading, reporting, issuing certification (paper and/or digital), and providing various products. All customer and/or technical support will be provided through the user-selected third-party. Therefore, Cameron.Academy does not assume any responsibility nor liability for issues that may arise as a result of purchasing these third-party courses and/or products.